1. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 1 Committed to Shaping the Next Generation of IT Experts. Chapter 4: Spreadsheets in Decision Making: What If? Robert Grauer and Maryann Barber Exploring Microsoft Excel 2003

2. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 2 Using Functions Function – a predefined computational task Requires arguments  Values the function uses to calculate answers Returns a value

3. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 3 The PMT Function Calculates a periodic payment, such as a car or mortgage payment Based on:  Amount financed  Interest rate  Number of periods

4. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 4 Using the PMT function Interest rate divided by 12 Number of payments multiplied by 12 Amount financed expressed as a negative number Amount financed, interest rate, and the term, are all isolated as assumptions. One or more assumptions can be changed

5. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 5 The FV function Returns the future value of a series of payments  For example, contributions to a retirement plan Based on:  Number of periods  Expected rate of return  Amount invested each period

6. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 6 Using the FV Function Amount of contribution, rate of return, and years contributing are all expressed as assumptions

7. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 7 Inserting a Function Use the Insert Function command from the Insert menu Use the list box to select the name of the function  Functions are categorized Let the Wizard help you enter the arguments  Point to enter cell references  Use the Collapse button to collapse the dialog box

8. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 8 The Function Wizard Enter arguments into text boxes Collapse button shrinks dialog box if necessary Value returned by the function (answer) is displayed

9. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 9 The Goal Seek Command Allows you to set an end result and vary the inputs (assumptions) to produce that result  Only one input can be varied at a time All other assumptions remain constant  For example, set a desired monthly car payment Vary the amount financed Interest rate and number of months remain the same

10. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 10 Using the Goal Seek Command Enter the cell containing the desired result Enter the desired value Enter the cell containing the desired result

11. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 11 Developing Proficiency Use relative and absolute references correctly  Use relative cell references if the value will change when a cell is copied  Use absolute references if the value remains constant (typically assumptions) Mixed references  Use when either the row or the column will change Isolate your assumptions  Formulas in cells refer to the assumptions area, not to the actual values

12. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 12 Using Mixed References Mixed references used for number of payments, rate of return Absolute reference used for amount of contribution

13. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 13 Statistical Functions MAX, MIN, and AVERAGE functions  Return highest, lowest, and average values from an argument list Argument list may include cell references, cell ranges, values, functions, or formulas Cells that are empty or contain text are not included COUNT and COUNTA functions  COUNT returns number of cells containing numeric entries or formulas that return a number  COUNTA also includes cells with text

14. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 14 Using Functions versus Formulas In general, use functions instead of formulas  Functions are adjusted as rows or columns are deleted or added within the range referenced by the function  With formulas Adding a row adjusts the cell references in the formula, but does not include the new row in the formula Deleting a row causes a #REF error message

15. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 15 The IF Function Enables decision making in a worksheet Requires three arguments:  A condition  A value if the condition is true  A value if the condition is false Condition must be able to be evaluated as true or false  Uses relational operators (=, <, etc.)

16. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 16 Using the IF Function Incorrectly Value_if_true entered as a conditional test. Function will return True or False

17. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 17 Using the IF Function Correctly Value_if_true entered as a value. Value_if_false entered as a cell reference

18. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 18 The VLOOKUP function Allows Excel to look up a value in a table and return a related value Requires three arguments:  the numeric value (or cell) to look up  the range of the table  the column number containing the value you want to return

19. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 19 Using the VLOOKUP Function This argument tells the function where to look. Absolute references used for the table Look in the second column of the table, NOT in column J Look up the value found in cell I4, in this case, the semester average

20. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 20 Working With Large Worksheets Scrolling causes the screen to move horizontally or vertically as you change the active cell  Drag the horizontal or vertical scroll bars  Click above or below vertical scroll bars  Click to the left or right of horizontal scroll bars Freezing Panes allows row and column headings to remain visible while scrolling Hiding rows and columns makes rows and columns invisible on the monitor or when printed

21. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 21 Freezing Panes As you scroll back up, rows 4- 8 will become visible again Window Menu

22. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 22 Printing Large Worksheets Page Preview command (View menu) lets you see where the page breaks are Page Setup command (File menu) lets you change how the sheet prints  Change from portrait (8 ½ x 11) to landscape (11 x 8 ½)  Change margins  Scale the worksheet to print on one sheet

23. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 23 The AutoFilter Command Allows you to display a selected set of rows within a worksheet  Displays rows that meet selected criteria  Other rows are hidden, not deleted Select Filter then AutoFilter from the Data menu Select criteria from the dropdown

24. Exploring Office 2003 Vol 1 2/e - Grauer and Barber 24 Using the AutoFilter Command Click the dropdown on the Homework column, then select Poor as the criteria